It’s no secret that apartment rents have been going up in the past couple of years, both in the neighborhood and in the rest of Manhattan. Many would-be buyers decided to rent when the housing market tumbled, and the rental market got tighter.
This month, all classes of Upper West Side apartments that are tracked in the monthly Manhattan Rental Market Report saw price increases. In particular, rents for studios in buildings with doormen rose 2%, and two-bedrooms without doormen rose 1.8% on a month-over-month basis. Here are the average listed rates in May for the different types of apartments, as calculated by MNS.
- Studio (with doorman) $2,455
- Studio (no doorman) $2,037
- One-bedroom (with doorman) $3,471
- One-bedroom (no doorman) $2,702
- Two-bedroom (with doorman) $6,190
- Two bedroom (no doorman) $3,846
But on a year-over-year basis, the increase in prices in the neighborhood appears to be slowing. We did a little math below:
| Apartment type | May-10 | May-11 | May-12 | 10-’11 % change | 11-’12 % change |
|---|---|---|---|---|---|
| studio doorman | $2,094 | $2,353 | $2,455 | 12.37% | 4.15% |
| studio no doorman | $1,732 | $1,924 | $2,037 | 11.09% | 5.55% |
| 1-bed doorman | $3,228 | $3,410 | $3,471 | 5.64% | 1.76% |
| 1-bed no doorman | $2,290 | $2,548 | $2,702 | 11.27% | 5.70% |
| 2-bed doorman | $5,445 | $5,819 | $6,190 | 6.87% | 5.99% |
| 2-bed no doorman | $2,896 | $3,322 | $3,846 | 14.71% | 13.62% |
| Average | 10.32% | 6.13% |
see that’s the thing- more buyers are prone to buy during the summer than any other time. However when the economy isn’t doing to well forget it, what’s what happened to me. it’s a dif sotry now though that its the summer, and the economy is increasing. https://newconstructionmanhattan.com/blog/2012/07/summer-months-propel-home-buyers